| Statuss(Aktīvs) | Izdruka | Arhīvs(0) | Studiju plāns Vecais plāns | Kursu katalogs | Vēsture |
| Course title | Finance Sustainability and Fintech Regulation |
| Course code | EkonM019 |
| Credit points (ECTS) | 4 |
| Total Hours in Course | 108 |
| Number of hours for lectures | 8 |
| Number of hours for seminars and practical classes | 24 |
| Number of hours for laboratory classes | 0 |
| Independent study hours | 76 |
| Date of course confirmation | 23/10/2024 |
| Responsible Unit | Institute of Economics and Finance |
| Course developers | |
| Ph.D., doc. Līga Feldmane |
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| There is no prerequisite knowledge required for this course | |
| Course abstract | |
| The course provides students with an understanding of the principles of financial sustainability, as well as development and regulatory aspects of the FinTech industry. In today's rapidly changing financial world, it is essential to be aware of how digital technologies and innovative financial solutions interact with sustainable development goals and legal framework. During the course, students will explore the integration of sustainability in the financial sector, the regulatory challenges faced by FinTech companies, and develop an understanding of global and local regulatory requirements.
The aim of the study course is to understand the application of sustainable development principles in the financial services industry, to familiarize oneself with the regulatory aspects of the FinTech sector, and to promote understanding of the synergy between financial and technological development. |
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| Learning outcomes and their assessment | |
| Knowledge:
• In-depth knowledge of how the financial sector can contribute to sustainable development and solve global problems - test, exam. • Understanding of global and local FinTech regulatory principles and policies, opportunities and risks created by FinTech innovations - test, exam. • Expanded understanding of the impact of digital financial technologies on traditional financial markets and sustainability goals, and methods of evaluating the compliance of FinTech solutions with these goals - discussions during classes, test. • Understanding of financial institutions and market regulation, including international standards and Latvian national regulation. Understands how FinTech innovations are regulated and what are the main trends in this field - test, exam. Professional skills: • Able to effectively communicate about financial sustainability issues and digital financial solutions with different audiences - discussions in classes, independent work (presentation). • Able to find information about financial sustainability and digital financial solutions, collect it and present it - independent work (presentation). • Manages risks related to FinTech, taking into account the regulatory environment - independent work (presentation), test work. General skills: • Can responsibly plan assigned tasks - independent work (presentation). • Able to work in a team, cooperate with others and share their knowledge - practical work. Competence: • Able to justify decisions in the field of sustainable finance. Discussions in classes, independent work. • Critically evaluating information about financial sustainability and FinTech innovations, able to evaluate how technological innovations can promote or hinder sustainable financial development - discussions in classes, independent work (presentation). |
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| Course Content(Calendar) | |
| Lectures (8 hours)
1. Introduction to financial sustainability and FinTech regulation. The concept of financial sustainability and its importance in modern economy and finance. The development of the FinTech sector and the need for its regulation. FinTech solutions for achieving Sustainable Development Goals. Development of sustainable financial products and services. Classification of sustainable financial products. (2 hours) 2. Fundamentals of financial market regulation and FinTech challenges. Fundamentals of financial market regulation and their adaptation to the FinTech industry. Key FinTech risks and challenges. Risk management tools and their application in sustainable financial products. (1 hour) 3. Digitization of services and their sustainability in the financial sector. Digitalization of financial services and its impact on sustainable development. Compatibility of digitization and sustainability in the FinTech sector. Blockchain technologies and cryptocurrencies and their legal framework. (1 hour) 4. Global and local FinTech regulatory standards. Global regulatory trends in the FinTech industry. FinTech regulatory approaches in the Baltic States and the European Union. (1 hour) 5. Payment systems and their regulation. Development and regulation of digital payment solutions. (1 hour) 6. Data security and privacy issues. Data protection principles and their importance in the FinTech sector. Regulation regarding the processing of customer data. Cyber security risk and its management in FinTech companies. (1 hour) 7. Ethical issues in sustainable financing. Conflicting interests and their management. Responsibility for achieving sustainability goals. (1 hour) Practical works (24 hours in total): 1. FinTech Solutions for Sustainable Development Goals (4 hours). To understand the potential of the FinTech industry in achieving Sustainable Development Goals and to identify specific FinTech solutions that can contribute to the implementation of these goals. Group work where participants select a Sustainable Development Goal and identify at least three FinTech solutions that could contribute to achieving that goal. 2. Analysis of FinTech Regulation in the Baltic States (4 hours). To understand the specifics of FinTech regulation in the Baltic States. To choose a specific FinTech segment and, using various sources such as laws, regulator websites, analyse how Baltic regulations affect this particular segment. 3. Exploring the Application of Blockchain Technology (4 hours). To analyse the potential and challenges of blockchain technology in various industries and to foster discussion about the future development of blockchain technology. To analyse a case study where blockchain technology has been successfully used. The analysis should evaluate its success, challenges, and lessons learned. 4. Development of a Regulatory Sandbox Model (4 hours). To understand the concept of a regulatory sandbox and its significance in promoting financial innovation. Identify the key factors influencing the development of the model. To develop a short regulatory sandbox project for a specific innovation. 5. Principles of Sustainable Lending (4 hours). To understand the concept of sustainable lending and its significance in the modern financial world. To choose a lending product and analyse its potential in the context of sustainability. 6. Final Exam on Financial Sustainability and FinTech Regulation (1 hour). 7.Presentation of independent work (comparison of FinTech companies) (3 hours). |
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| Requirements for awarding credit points | |
| Exam. Cumulative rating consisting of:
• Test on the concept, problems, FinTech and its regulation – 30%; • Independent work (presentation) on FinTech solutions – 30% • Exam – 40%. |
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| Description of the organization and tasks of students’ independent work | |
| Research and analysis of study course materials, scientific literature, regulatory documents in preparation for the exam on financial sustainability and FinTech regulation.
Reading study course materials and literature in preparation for the test on the concept of financial sustainability, problems, FinTech solutions and their regulation. Analysis of literature and publicly available information about FinTech companies, in preparation for independent work (presentation) on sustainability strategies, data security and ethical aspects of selected FinTech companies. |
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| Criteria for Evaluating Learning Outcomes | |
| The assessment of the study course exam depends on the assessment of the exam task and the study course test, as well as the independent work.
A student can get a passing grade for the exam if at least 50% of the questions are answered correctly. A student can get a passing grade for the test if at least 50% of the test questions are answered correctly. The independent work (presentation) is assessed in accordance with the assessment procedure specified in the assignment. |
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| Compulsory reading | |
| 1.Shrier D.L., Pentland A. Global Fintech. Financial Innovation in the Connected World. Massachusetts Institute of Technology, 2022., (brīvpieejas).
2.Graham M. Digital Economies at Global Margins. The MIT Press, 2019., (brīvpieejas). 3.Roncalli Th. Handbook of Sustainable Finance. 2024., Pieejams: http://www.thierry-roncalli.com/download/HSF.pdf 4.Zetzsche, D. A., Buckley, R. P., Arner, D. W., & Barberis, J. N. Regulating a Revolution: From Regulatory Sandboxes to Smart Regulation. Fordham Journal of Corporate & Financial Law. 2017. |
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| Further reading | |
| 1. Clark, G. L., Feiner, A., & Viehs, M. (2015). From the Stockholder to the Stakeholder: How Sustainability Can Drive Financial Outperformance. Oxford University Press. Pieejams: https://arabesque.com/research/From_the_stockholder_to_the_stakeholder_web.pdf
2. Nicholls A. Sustainable Finance: A Primer and Recent Developments, 2021. Pieejams: https://www.adb.org/sites/default/files/institutional-document/691951/ado2021bp-sustainable-finance.pdf 3. Al nawayseh M.K. FinTech in COVID-19 and Beyond: What Factors Are Affecting Customers’ Choice of FinTech Applications? Journal of Open Innovation: Technology, Market and Complexity. 2020, 6(4), 153; https://doi.org/10.3390/joitmc6040153 4. Campbell-Verduyn, M. Bitcoin and Beyond: Cryptocurrencies, Blockchain, and Global Governance. Routledge, 2018. 1.Schoenmaker, D., & Schramade, W. Principles of Sustainable Finance. Oxford University Press, 2019. 2.Gomber, P., Koch, J. A., & Siering, M. Digital Finance and FinTech: Current Research and Future Research Directions. Journal of Business, 2017. 3.Phiri V. Sustainable Finance, 2021. Pieejams: https://www.researchgate.net/publication/359270189_ SUSTAINABLE_FINANCE 4.Fintech : Latvijas izaugsmes iespēja. Latvijas Alternatīvo finanšu pakalpojumu asociācija, Rīga, 2017., 38 lpp. 5.Magnuson W. Regulating Fintech. Vanderbilt Law Review, 2018.,Vol. 71, No. 4. |
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| Periodicals and other sources | |
| 1.FinTech Latvija asociācija. https://fla.lv/nozares-parskats/
2.Deloitte, TechTrends 2024, pieejams: https://www2.deloitte.com/content/dam/insights/articles/us176403_tech-trends-2024/DI_Tech-trends-2024.pdf 3.FinTech Latvija asociācija, FinTech Pulse 2023, pieejams: https://fla.lv/pulse2023/ 4.Global FinTech: Reimagining the Future of Finance, 2023, pieejams: https://web-assets.bcg.com/69/51/f9ce8b47419fb0bb9aeb50a77ee6/bcg-qed-global-fintech-report-2023-reimagining-the-future-of-finance-may-2023.pdf |
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| Notes | |
| Academic Master's study programme "Sustainable Finance" | |